Fast second mortgages for brokers
Be the broker with the solution. A fast second mortgage reaches the equity in your client's property without touching their first mortgage, with conditional approval in as little as 15 minutes and funds in as little as 24 hours from a clean, complete scenario.
Or call the scenario desk on 1300 93 83 87, Mon–Fri, 8:30am – 5:30pm Melbourne time.
Four situations where a fast second mortgage is the answer
Mortgage brokers and finance brokers tend to meet the same four deals. If your client's property already has a loan on it and the clock is running, these are the ones to send us.
An ATO notice with a date on it
A garnishee, a failing payment plan or a director penalty notice. Equity can clear it while there is still time.
Read more → OpportunityStock, plant or a site at a price
A window that closes in days. The deal is good; the timing is the problem.
Read more → Settlement gapA settlement that moved
The exit is in sight but not yet here. A second mortgage covers the gap while the first mortgage stays put.
Read more → DeclinedThe client your lender said no to
Offered too little, or declined outright. We lend against the property and the exit.
Read more →
From scenario to funds, step by step
Four steps, with an honest time against each. The pace is set by how clean the scenario is when it lands.
Tell us the deal
Call or email the Simple Seven. A Lending Manager gives you an indicative yes or no, usually in minutes.
MinutesConditional approval
Photo ID, a rates notice and recent mortgage statements. Written conditional approval in as little as 15 minutes, and often a verbal answer on the phone first.
As little as 15 minutesConsent, where needed
Where the first mortgage calls for the first mortgagee's consent, we plan around it. Telling us who holds it on the first call keeps this step short.
Funds released
As little as 24 hours from a clean, complete scenario, with a usual range of 24 to 72 hours.
As little as 24 hoursSecond mortgage criteria for brokers
Every line below is read from the same source as the rest of the site, so it cannot drift from the product pages.
| Criterion | HomeSec |
|---|---|
| Borrower | Companies, trusts and sole traders — including start-ups. |
| Loan amount | $20,000 to $5,000,000. |
| Security | Residential, commercial, rural or vacant land. First or second-ranking mortgage. Cross-collateralisation across multiple properties. Your home can be the security. |
| Maximum LVR | Up to 80% on residential and 70% on commercial. Lower on large acreage, and LVRs may reduce on properties worth less than $800,000. |
| Term | Open, from one month. None — no rollover fees, legal fees or rewriting the loan to extend. |
| Repayments | Interest-only, or interest capitalised for up to 6 months. No daily or weekly direct debits. |
| Valuation | None — we don't use valuers. |
| Financial records | None. No cashflow records, no sworn valuation, no financial records, no minimum trading period. |
| Credit history | Considered, and never disqualifying on its own — defaults, arrears and thin files do not rule you out. |
Four habits that keep a second mortgage fast
None of these is a document. They are the four things that decide whether a file runs at the front of the range or the back.
Say who holds the first mortgage
It decides whether consent is part of the file, and whether we sit second or the deal fits another structure.
Give an honest number for what is owed
We work to a percentage of value inclusive of existing debt. A surprise on the title costs a day.
Tell us everyone on title
Everyone on title signs, so knowing who is involved from the start saves a round trip.
Put the deadline on the first line
If there is a date or a notice running, say so first. Then nothing is waiting on us.
A second mortgage with a deadline?
Send the scenario now, with the date on the first line. Business purpose, across Australia, lending continuously since 2004.
Price it with your brokerage
Enter your brokerage as a percentage or a dollar amount and see what the client receives.
Open the calculator → Partner with usReferral partner or broker partner
Two ways to come on board. Pick the programme that suits how you work.
Partner with us →Lodge a scenario or apply to partner
Lodge and track files in the HomeSec portal at app.homesec.com.au.
Run a scenario · Apply to partner · Portal loginReliable for mortgage brokers and finance brokers since 2004
HomeSec treats brokers and their clients with fairness, respect, openness and transparency. Here is what that looks like on a deal.
- Approval in as little as 15 minutesConditional approval in as little as 15 minutes, and often a verbal answer on the phone first. Funds in as little as 24 hours from a clean, complete scenario.
- No valuationsWe don't use valuers and there is no sworn valuation, so there is no appointment to wait for.
- No cash flow recordsNo financials, BAS or tax returns. We lend against the property and the exit.
- A credit score does not decide the dealCredit history is considered and never disqualifying on its own. Defaults, arrears and thin files do not rule a client out.
- A person decides every loanA Lending Manager reads every scenario and the credit team signs off every loan. We fund from our own capital.
- Reliable, since 2004One of the longest-serving private business lenders in Australia. You do not stay that long unless you are doing the right thing by brokers and their clients.
Questions brokers ask about fast second mortgages
What is a fast second mortgage?
How quickly can a second mortgage be approved and funded?
Does the first mortgagee have to consent?
Can several properties secure one second mortgage?
What does the client pay?
Do I need to be accredited to send a scenario?
Approval and funding times are from a clean, complete scenario. Loan terms, extensions and pricing are subject to approval and the loan documents.